ABCON expresses commitment to transparent, lawful FX transactions

The Association of Bureau De Change Operators of Nigeria (ABCON) on Friday expressed its commitment to transparent and lawful foreign exchange transactions.

Alhaji Aminu Gwadabe, President of ABCON, disclosed this in a statement in Lagos against the backdrop of alleged infractions by some of its members.

Gwadabe noted that some of its members had been invited by security agents on allegations of unlawful forex transactions.

He said that the association had been in contact with the authorities concerned and found out that the investigations were bordering on money laundering, terrorism financing and Know Your Customers status.

“ABCON considers these as serious allegations given the security challenges across the country.

“We strongly identify with the desire of every responsible citizen for thorough investigations, with the authorities following every possible lead and taking necessary measures that will improve the security situation in the country.

“We, however, appeal to security agents to expedite their work and ensure that innocent people that have been caught up in this investigation can be identified quickly and released, so that they can be reunited with their families.

“We also trust that the authorities will follow the rule of law and ensure that those with a case to answer have their day in court.

“The rule of law is the foundation upon which every functional society stands,” Gwadabe said.

He expressed ABCON’s readiness to cooperate fully with the relevant authorities to ensure its members’ businesses were not exploited for any form of malpractice against the laws of the land. (NAN)

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